Latest Vancouver Real Estate News

Commercial Activity Nosedives in 2020 Q1

Posted on Jun 03, 2020 in Economics

Commercial Activity Q1 2020 - Covid 19The BCREA Commercial Leading Indicator (CLI) was down sharply in the first quarter of 2020 from 134.2 to 123.2, reflecting the slowdown prompted by the COVID-19 pandemic. Compared to the same time last year, the index was down by 4.8 per cent.

The pandemic-induced shutdown of the economy in the last two weeks of the first quarter of 2020 had a notab...

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Greater Vancouver Real Estate Statistics - May 2020

Posted on Jun 02, 2020 in Market Update

May 2020 - Vancouver Real Estate StatisticsHome prices remain steady, buyers and sellers become more comfortable operating in today’s market

Metro Vancouver home prices have remained steady since provincial health officials implemented physical distancing requirements in March.

The Real Estate Board of Greater Vancouver (REBGV) reports that the MLS® Home Price Index composite benchmark price...

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Canadian Real GDP Q1 2020

Posted on May 29, 2020 in Economics

GDP vs Long Run TrendThe Canadian economy contracted 8.2 per cent at a quarterly annualized rate in the first quarter, including a 7.2 per cent decline in March following the paralysis of economic activity brought on by the COVID-19 pandemic. Household spending fell 2.3 per cent, the steepest drop ever recorded, while exports were down 3 per cent and government spendin...

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Canadian Inflation (April 2020)

Posted on May 21, 2020 in Economics

Canadian Inflation Rates - April 2020Canadian inflation, as measured by the Consumer Price Index (CPI) fell by 0.2 per cent in April year-over-year, down from a 0.9 per cent gain in the previous month. This was the first year-over-year decline in the CPI since September 2009. Energy prices were the main drag on inflation due to the drop in global demand, excluding this category, natio...

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Housing Market Slows, but Resilient in Response to Pandemic

Posted on May 13, 2020 in Market Update

MLS Home Sales - Covid 19The British Columbia Real Estate Association (BCREA) reports that a total of 3,284 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in April 2020, a decline of 50.8 per cent from April 2019. The average MLS® residential price in BC was $737,834, a 7.8 per cent increase from $684,430 recorded the previous year. Total sale...

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Canadian Employment (April 2020)

Posted on May 08, 2020 in Economics

BC Employment Numbers - April 2020Canadian employment fell further in April by 2 million jobs (-11%, m/m), bringing cumulative losses to 3 million since February. The unemployment rate rose by 5.3 percentage points from 7.8% to 13%, as the impact from the closure of non-essential businesses and travel restrictions were not fully reflected in last month's job report. The last recess...

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